NEW homes built on the site of Birmingham’s derelict Firebird pub – which was famously occupied by homeless protesters – were being launched today.

The Edgbaston development, called the Pheonix, has risen from the pub’s ashes, with new and affordable housing aimed at low-income first time buyers.

For three months in 2009, the pub, which had been derelict for five years, was home to an army of squatters calling themselves Justice Not Crisis demanding affordable housing for the city’s homeless.

Now the Phoenix estate in Bellevue, Edgbaston, along with a new Woodview estate in Spring Road, combine as part of a 78-home development by the Optima Community Association.

It also includes 13 properties, called Homebuy, aimed at first-time buyers.

Optima director David Stevenson said: “The Phoenix development has been designed specifically to provide homes for first-time buyers desperately trying to get on the property ladder, but unable to afford to buy a home outright. There is a real pent-up demand for affordable homes in the city.

“Houses at our previous development in south Birmingham sold out prior to completion and with the level of interest for the homes in this phase we are hopeful Phoenix will prove as popular.

“Sustainable design is a major feature of these properties including solar panels to generate electricity for householders, creating an economic and green home in a climate of rising fuel prices.”

Potential buyers of the Homebuy houses must be first-time buyers with household income under £60,000 and less than £15,000 of existing debt.

Prices range from £72,500 for a half share for a two-bedroom house to £79,975 for a three-bedroom property.

Buyers have the option to increase their share in the property until they own it outright. Rent and services charges will apply.

Recent research revealed a first-time buyer on around £21,000 would have to save for more than 17 years to afford the average deposit on a home, £28,770.